Chapin Elevator Newsletter

GRAIN NEWS

Corn planting progress came out April 28th, the USDA reported that the U.S. was at 19% and that last year at the same time we were only at 5% planted. Average for the U.S. is 28%. Here in Illinois they reported planting was at 32%. Average for this time of year in Illinois is 33% and last year at this time we were only at 1%. We have had a much better start to this planting season. When you are out driving around you can all ready see some emergence. We are looking forward to great yields this year.

Corn exports continue to be strong. The demand should help cash prices. We should see good basis levels through June. Advisors recommend pricing more old crop bushels when July futures hit $5.25 (We are only about 10 cents from that now). When pricing new crop keep in mind that the U.S. over all is behind on planting. AgriVisor recommended using rallies over $5 for December futures to make sales.

Not much news on soybeans yet. It is recommended not to own any old crop and that new crop should be about 40% sold. Although stocks are tight in the US world stocks are not. China has resold some Brazilian soybeans to the U.S. and Argentine is only about 42% finished with their harvest.

SEED NEWS

If you need more seed, Matthew has extra to help meet all your needs. 217-473-4518

We can fill bulk tenders with our conveyor auger. Or if you need to borrow our seed tender give us a call to make arrangement.

When making returns please be sure to call Matthew to ensure his records are up to date. And remember we cannot accept returns for treated soybeans.

FEED NEWS

We have a full line of VitaFerm products. If you don't have your mineral out already now is the time.

Who is going to the Fair! Fairs are right around the corner!

Start thinking about your show feed needs. We have Show-Rite and Sure Champ products to help you achieve your goals. Talk to Tom or Dick about having a show feed custom mixed ration using the roller mill or the hammer mill. The rations look and smell great!

THANK YOU FOR YOUR BUSINESS FROM THE STAFF AT CHAPIN FARMERS ELEVATOR!